AZ completes Amplimmune buy

AstraZeneca has completed its $500 million-plus purchase of cancer immunology group Amplimmune, a spin-out of John Hopkins University.

MedImmune, the drug giant's research and development arm, has acquired 100% of Amplimmune’s shares for an initial consideration of $225 million and deferred consideration of up to $275 million based on reaching predetermined development milestones.

The move bolsters MedImmune’s oncology pipeline with multiple early-stage assets for its immune-mediated cancer therapy (IMT-C) portfolio, including AMP-514, an anti-programmed cell death monoclonal antibody currently in late-stage preclinical development, with the aim of an investigational new drug filing before the end of the year.

“MedImmune’s focus on harnessing the power of the patient’s own immune system to fight cancer will be complemented by Amplimmune’s innovative work in this area," MedImmune's executive vice president Bahija Jallal previously said, adding that the deal "will allow us to strengthen our arsenal of potential cancer therapies".